THE retail price of RON97 petrol will drop by 10 sen from RM4.30 to RM4.20 per litre while those of RON95 and diesel will remain unchanged for the week from September 8-14.

The Finance Ministry, in a statement today, said to protect consumers from global oil price hikes, the ceiling price of RON95 and diesel will remain at RM2.05 and RM2.15 per litre respectively, although the real market prices of the two products have increased beyond the current ceiling prices.

It said the prices were set based on the weekly retail prices of petroleum products using the Automatic Pricing Mechanism formula.

“The government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the welfare and well-being of the people continue to be protected,” it said. – Bernama, September 7, 2022.